ALIMERA SCIENCES, INC. (NASDAQ:ALIM) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.
On March 28, 2019, Alimera Sciences, Inc. (“Alimera,” “we,” “our,” “us”) received notice (dated April 1st, 2019) from Flextronics Medical Sales and Marketing, Ltd. (“Flextronics”) that it intends to terminate the Manufacturing Services Agreement (the “Agreement”) dated March 2, 2012 between Alimera and Flextronics for the manufacture of certain component parts of the ILUVIEN® injector. See Item 1.02 of our Current Report on Form 8-K filed with the SEC on March 2, 2012 and Exhibit 10.35 to our Quarterly Report on Form 10-Q filed with the SEC on May 11, 2012, which are incorporated herein by this reference, for a description and a copy of the Agreement.
The term of the Agreement automatically renews for successive 12-month terms unless one of the parties gives 18 months’ notice that it does not intend to renew the Agreement. Based on Flextronics’ notice, the Agreement will terminate on September 30, 2020. In the notice, Flextronics states it is available to work with Alimera and will continue to supply product during the transition period. We expect to discuss a transition plan with Flextronics in the near future.
We are confident there are one or more potential replacement vendors for the affected parts and do not expect the termination of the Agreement to materially affect our operations.
About ALIMERA SCIENCES, INC. (NASDAQ:ALIM)
Alimera Sciences, Inc. (Alimera) is a pharmaceutical company. The Company is engaged in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The Company operates through two segments: U.S. and International. The Company focuses on diseases affecting the back of the eye or retina. The Company’s product is ILUVIEN, which is developed to treat diabetic macular edema (DME). DME is a disease of the retina that affects individuals with diabetes and can lead to severe vision loss and blindness. In the United States, ILUVIEN is indicated for the treatment of DME in patients who have been treated with a course of corticosteroids and did not have a rise in intraocular pressure (IOP). In the European Economic Area (EEA) countries, ILUVIEN is indicated for the treatment of vision impairment associated with DME considered insufficiently responsive to available therapies.